Manheim’s DealerMatch sibling grows as it sidesteps auctions

1:40 pm U.S. ET | Jan. 25, 2014
DealerMatch, the corporate sibling to Manheim that helps dealerships buy and sell used vehicles among themselves while avoiding the auctions that are the core of Manheim’s business model, has upped its base price, launched optional enhancements and more than doubled its paying members from last summer.... Read More »


Manheim: Used-car prices will stay healthy

12:01 am U.S. ET | Jan. 24, 2014
Used-vehicle prices could fluctuate at times this year but are expected to remain healthy overall, Tom Webb, Manheim's chief economist, said. Webb said the market fundamentals that kept used-car prices relatively high last year -- such as employment growth, readily available retail financing and strong retail used-car demand -- are expected to remain mostly unchanged in 2014.... Read More »



Taking certified-used sales to the next level

12:01 am U.S. ET | Jan. 20, 2014
As expected, certified used-vehicle sales set a record in 2013. Though the programs generally are very successful, the leaders of some dealer councils say there is room for volume growth and better execution.... Read More »



Wanted: New ways to acquire used cars

12:01 am U.S. ET | Jan. 20, 2014
In 2014, the supply of used vehicles, especially late-model ones, will increase. But dealers say they will continue to be creative and aggressive in procuring used cars. After all, the supply still will be well short of peak levels. And down the road, Sonic Automotive Inc. plans a chain of used-only stores, akin to the CarMax Inc. model, which will siphon used cars from the market. So the old tried-and-true ways of procuring used-vehicle inventory won't be enough.... Read More »



Manheim teaches dealers' kids about the auction biz

12:01 am U.S. ET | Jan. 20, 2014
Manheim's largest auction site has created a yearlong training program to teach dealers' children how to buy and sell vehicles at auctions profitably. Tim Van Dam, market vice president of Manheim's Northeast Market, says the NextGEN program is the result of conversations with dealers who want their children to learn about the intricacies of auctions in preparation to join, or take over, the family business.... Read More »



Count on them: Death, taxes and used vehicles

2:48 pm U.S. ET | Jan. 15, 2014
Death and taxes are two things we know we can count on. Here's one more: The new cars and trucks on display this week at the Detroit auto show will become used vehicles someday. That's why analysts from Kelley Blue Book and NADA Used Car Guide spent time at the show studying what's coming down the road.... Read More »



Overproduction, hefty spiffs sink residuals of Cadillac ATS

12:01 am U.S. ET | Jan. 13, 2014
A year ago, the ATS had among the highest residual ratings in the competitive compact luxury market, better than those of the BMW 3 series. But ALG's latest ratings put it toward the bottom of the pack, citing an overly ambitious volume forecast that left Cadillac dealers with inventories routinely exceeding a 140-day supply, more than double the level that's considered healthy.... Read More »


Economist: Used-vehicle prices will remain healthy, but could fluctuate

3:03 pm U.S. ET | Jan. 8, 2014
Used-vehicle prices could fluctuate at times this year but are expected to remain healthy overall, Tom Webb, Manheim's chief economist, predicted today.... Read More »


Manheim waives online fees for snowed-in buyers

6:33 pm U.S. ET | Jan. 6, 2014
Manheim said today it will offer some relief to dealerships hit by the weekend storm that dumped more than a foot of snow in parts of the Northeast and Midwest by waiving some online auction fees.... Read More »


Costco tests new used-car sales model

12:01 am U.S. ET | Jan. 4, 2014
Costco's auto sales arm is testing a program that allows franchised dealers to list for sale on its site used vehicles of any brand that are still under warranty. Participating dealers have agreed to sell the vehicles to Costco members at less than their lowest advertised prices.... Read More »


Hertz shares jump after board adopts 'poison pill' stock plan

8:42 am U.S. ET | Jan. 1, 2014
Hertz Global Holdings rose to a record high after the largest publicly traded rental-car company said it adopted a so-called poison pill upon seeing “unusual and substantial activity” in its stock.... Read More »


Ally wins U.S. approval to alter holding structure to keep insurance, vehicle-auction site

11:49 am U.S. ET | Dec. 23, 2013
Ally Financial won regulatory approval to change its holding-company status, allowing the firm to keep an insurance business and a vehicle-auction Web site. Ally, majority owned by the U.S. government, warned in July that regulators might not allow the shift as an exemption ends this month, potentially imposing a “material adverse” effect on earnings.... Read More »


Certified-used sales soar, and '14 looks even better

12:01 am U.S. ET | Dec. 23, 2013
Sales of certified used vehicles are heading for a record 2 million-plus units this year, pumped up by more off-lease vehicles returning to the market and by manufacturers' program enhancements. And sales will go even higher next year, predict industry watchers and certified used vehicle program managers at automakers.... Read More »



Auctions serve multiple partners

12:01 am U.S. ET | Dec. 16, 2013
The No. 1 goal of today's technologically enhanced brick-and-mortar auctions is to balance the varied remarketing needs of a very broad base of consigning partners with a potentially even more diverse group of buying partners that are trying to serve their retail partners.... Read More »


Humans optional: A vending-machine concept to sell used cars

12:01 am U.S. ET | Dec. 9, 2013
A new venture called Carvana is trying out what the owner calls a "vending machine" for used cars.... Read More »


NADA guide: '08-'09 prices will stay firm

12:01 am U.S. ET | Dec. 9, 2013
Average prices of late-model used cars and trucks for 2013 will drop compared to last year, but average prices of older used vehicles -- say those 4 to 6 years old -- will increase, predicts NADA Used Car Guides.... Read More »


More than half of new-car shoppers would consider CPO, study says

12:04 pm U.S. ET | Dec. 5, 2013
More than half of new-car shoppers are willing to consider buying a certified pre-owned vehicle, up from 43 percent a year ago, an study released today says.... Read More »


Manheim exec: Why do so few sales at auctions close?

12:01 am U.S. ET | Dec. 2, 2013
Manheim COO Janet Barnard, bringing an outsider's perspective to the auction industry, is questioning why the conversion rate -- the percentage of cars offered at an auction that actually sell that day -- is stuck at roughly 60 to 65 percent industrywide.... Read More »


Lithia expands to boost used-car sales

12:01 am U.S. ET | Nov. 25, 2013
Lithia Motors Inc. is focusing on people, property and pro-cesses in its bid to sell an average of 75 used vehicles per store each month. In the third quarter, Lithia sold an average of 57 used vehicles per store per month, up from 52 a year earlier. The company can reach its 75-unit target in "a couple" of years, CEO Bryan DeBoer told Automotive News.... Read More »


ADESA to start 2014 with new CEO

4:07 pm U.S. ET | Nov. 22, 2013
Stephane St-Hilaire has been named president and CEO of automotive auction firm ADESA Inc., effective Jan. 6, parent company KAR Auction Services said. St-Hilaire, 44, is currently the president and COO of ADESA's Canadian auction unit.... Read More »


Leases, marketing vital to Volvo survival plan

12:01 am U.S. ET | Nov. 11, 2013
Until new vehicles start arriving late next year, Volvo's plan for survival in the United States involves an aggressive return to leasing.... Read More »


ADESA: Off-lease overflow to benefit in-lane auctions

12:01 am U.S. ET | Nov. 11, 2013
An increasing number of vehicles will come off lease next year, experts agree.... Read More »


Used-vehicle prices will continue decline into 2014, Manheim chief economist says

4:24 pm U.S. ET | Nov. 7, 2013
Prices of used vehicles on average dropped in October from prior-month levels, but were higher than they were in October 2012, according to the Manheim Used Vehicle Value Index released today.... Read More »


KAR, Adesa's parent, posts 19% gain in Q3 net

12:24 pm U.S. ET | Nov. 6, 2013
KAR Auction Services, the parent of auction company ADESA, said today that its third-quarter net income rose 19 percent from the year-earlier period to $22.8 million, as revenues increased 12 percent to $533.7 million.... Read More »


Hertz expects to double its retail vehicle sales in 2 years

4:11 pm U.S. ET | Nov. 5, 2013
Hertz Global Holdings plans to at least double the number of retired rental vehicles it sells to retail consumers over the next two years, its top executive said today.... Read More »


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